Sweden: Industrial production rebounds in March
May 10, 2012
In March, industrial production rose a seasonally and working-day adjusted 0.4% over the previous month, which contrasted the 5.1% decline tallied in February (previously reported: -5.2% month-on-month). According to Statistics Sweden (SCB), the reading mainly reflected an improvement in the non-metallic mineral products as well as in the textile industries. Compared to the same month last year, industrial production decreased a working-day adjusted 6.5%, which was less than the 7.1% decline observed in February. In addition, the trend continues to point downwards, with the annual average growth falling from 3.9% in February to 2.3% in March.